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Sebastian Holdings, a US private equity activist, has reportedly bought a 2.5% stake in Vivendi Universal to push the French media group into selling its telecoms businesses. The holding makes it the company's largest individual shareholder.

French newspaper La Tribune reports that Sebastian has joined forces with Iranian investor Amir Jahanchani to buy the stake.

It said the private equity company was seeking to push Vivendi to sell telecom subsidiaries including France's SFR and Moroccan phone group, Maroc Telecom, in order to focus on its core media business.

Its share-building comes ahead of Vivendi's annual general meeting next month.

Both Sebastian Holdings and Amir Jahanchani have a track record in activist corporate investment.

Last year, they sided with French businessman Vincent Bolloré to gain board representation and push through management changes at French advertising company Havas.